45,

The price-earnings ratio is calculated by dividing:

Multiple Choice

• Dividends per share by market value per share.

• Earnings per share by par value per share.

• Dividends per share by earnings per share.

• Market value per share by dividends per share.

• Market value per share by earnings per share.

31.

Estimated liabilities commonly arise from all of the following except:

Multiple Choice

• Employee benefits.

• Unearned revenues.

• Pension benefits.

• Vacation benefits.

• Warranties.